Stimulus checks, tax refunds and direct payments benefited millions of eligible residents in the United States over the past year. In 2024, it is expected that the distribution of some economic relief will continue, possibly reaching the figure of $3,600.00 USD.
But, not everything is as easy as people usually think. It happens that the entities that distribute the payments need several requirements to do so.
We are talking about tax credits, environmental protection projects, community initiatives, among others.
For example, states were required in recent direct payments to have clean energy projects, such as battery storage.
Which states will send direct payments during 2024?
Maryland will be one of the American states that continues to send financial relief this year. As such, the state offers approximately 40,000 eligible taxpayers an annual Child Tax Credit. This is awarded to children under 6 years old or with disabilities and has a value of $500.00 USD.
In Arizona, eligible taxpayers could get a new tax refund of up to $250.00 USD for each dependent over the age of 17. This was announced by Governor Katie Hobbs who highlighted that the maximum refund will be $750.00 USD.
On the other hand, New Mexico residents could receive a refund of up to $1000.00 USD, for taxpayers who filed their tax year 2021 return.
This, before May 31, 2024, as long as they are not claimed as dependents on another tax return.
A TABOR tax refund, between $847.00 USD and $1,694.00 USD, will be available to eligible Colorado taxpayers. Said refund will depend on the status you have, whether individually or jointly.
Finally, in California a one-time tax credit will be granted to its eligible residents of up to $3,600.00 USD. To receive it, the condition is to approve a California earned income tax credit and have a dependent under 6 years old.
